Comments sought on exposure drafts

At BDO, we provide comments locally to the Australian Accounting Standards Board (AASB) and internationally to the International Accounting Standards Board (IASB). We welcome any client comments on exposure drafts that are currently available.
If you would like to provide any comments, please contact Aletta Boshoff, Partner and National Leader, IFRS & Corporate Reporting and National Leader, ESG & Sustainability.

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Proposals

Comments due to AASB by

Comments due to IASB by

ITC 56 Post-implementation Review of Tier 2 and the Removal of Special Purpose Financial Statements for Certain For-Profit Private Sector Entities and Further Update of Tier 2

There are two parts to ITC 56:

  • Section 1: The AASB is seeking comments about the outcome and effectiveness of AASB 1060 (Simplified Disclosures) and AASB 2020-2 (removal of special purpose financial statements for certain for-profit private sector entities).
  • Section 2: The AASB is seeking feedback on potential amendments to AASB 1060 in response to recent international and domestic Accounting Standard updates, specifically:
    • Which amendments to the third edition of IFRS for SMEs should be reflected in AASB 1060?
    • Whether AASB 1060 should be updated to align with the new AASB 18 Presentation and Disclosure in Financial Statements?
    • Whether IFRS 19 Subsidiaries without Public Accountability should be adopted in Australia, and if so, how?

22 January 2026

N/A

ED 338 Application of AASB 18 and AASB 107 by Superannuation and Not-for-Profit Entities and Operating Cash Flow Reconciliation

When issuing AASB 18 Presentation and Disclosure in Financial Statements, the AASB deferred the application date of AASB 18 for superannuation entities, not-for-profit (NFP) private sector entities and NFP public sector entities to allow time to consider how AASB 18 should apply. The AASB is proposing the following changes to Tier 1 general purpose financial statements (GPFS) for these entities:

  • Amending AASB 18 and AASB 107 Statement of Cash Flows for application by superannuation and not-for-profit entities, and
  • Clarifying how entities prepare the operating cash flow reconciliation.

27 February 2026

N/A